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Innovation and Technology Leading Construction Sector Growth: Nidhi Aggarwal

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Innovation in building materials is an ongoing reality in a construction industry largely dominated by unbeatable technology and knowledge. After a long construction boom, the construction industry struggled to protect workers and reopen sites in the year after the pandemic. The industry has responded during this difficult time by focusing more on innovation. The coming year is likely to witness further developments in automation and technology that will revolutionize construction as we know it.

New building materials help architects better realize their vision by enhancing structures with greater strength, durability and flexibility. New technologies are accelerating the growth of construction. Artificial intelligence (AI) and the Internet of Things (IoT) are helping construction companies eliminate years of inefficiency and low productivity. These breakthrough innovations have made construction sites safer and workers more productive. This has resulted in increased productivity, better collaboration, and the ability to take on more challenging projects. Spacemantra Founder Nidhi Aggarwal.

In an exclusive interview with Sanjeev Sinha, Aggarwal discusses the growing need for new building materials and new technologies in the construction industry and shares her business outlook. excerpt:

How do new building materials prioritize human safety and well-being?

Responding to modern and evolving needs, innovative designs and cutting-edge materials and technologies are shaping industries, economies and ultimately the future. New building materials can protect building occupants from harmful chemicals, such as inhalation of volatile organic compounds and ingestion of dust. Surrounding yourself with natural materials is not only environmentally friendly but also improves your overall well-being. Such materials improve indoor air quality and have serious health effects, causing headaches, lethargy, skin and eye irritation, and high exposure to toxins that can affect your health. protect humans from

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What impact will rising raw material costs have on real estate prices?

Rising raw material prices such as cement, bricks and steel can lead to cost overruns for developers. If this trend continues, developers will be forced to pass some of the price increases on to homebuyers. Rising prices will have some negative impact on India’s rapidly recovering property market. Cement prices are affected by rising input costs such as coal and crude oil prices. Given that the upward trend in coal prices is expected to continue for some time, developers will face some challenges in the near future. However, the industry as a whole continues to see a surge in demand.

How will technological improvements improve the construction sector?

Today, however, many construction companies are leveraging the power and flexibility that state-of-the-art construction tools offer industry stakeholders. When it comes to integrating data collection and analytics systems, the Internet of Things (IoT) is driving real-time tracking and monitoring. 3D printing in construction has made complex project development faster and more accurate, reducing labor costs and waste. The use of drones and some robotic devices is also very beneficial. They assisted in highly efficient tracking and inspection of hard-to-access areas of the project, resulting in a safer working environment.

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Covid has disrupted the entire world for over two years. What are the trends in demand, supply and prices over the past two years?

After a period of adjusting forecasts and changing expectations, 2022 has been identified as a year of revival and growth for the construction industry. The COVID-19 pandemic has had a major impact on the construction industry. Many contractors lacked the financial resources needed to cover employee wages and sustain operations during the COVID-19 pandemic. The closures and delays were caused by the pandemic at international factories that make these materials. Buyers are ready to bear higher prices as India expects robust infrastructure growth.

Supply chain management remains one of the most important concerns in the Indian construction industry. what do you think about this?

In today’s market, the use of supply chain management helps businesses by enabling them to be more competitive, increase profits, and gain more control over various factors and variables within a project. Supply chain management not only reduces costs, but also improves vendor and distributor relationships, facilitates effective communication among all project participants, and ensures project completion within specified timeframes. to Given the size and scale of this industry, supply chain management still has a lot of room for improvement.

What is your company doing now and what are your plans for the future?

SpaceMantra is building a one-stop eB2B platform aimed at consolidating the highly fragmented and unorganized construction industry. By partnering directly with manufacturers and brands, we have strengthened our vendor base and are able to offer better pricing and product ranges to our customers. We are committed to providing solutions to the long-standing procurement challenges that exist in our industry. Our future plans are very progressive and we look forward to expanding our customer reach by offering a range of integrated services that help ease operational challenges.